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India Glycols Ltd · 500201
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India Glycols Ltd has announced the effectiveness of its Scheme of Arrangement, demerging into three separate entities: India Glycols Ltd, IGL Spirits Ltd, and Ennature Bio Pharma Ltd. Shareholders will receive shares in each of the new entities. The demerger aims to create separate companies with clear business focus, enabling improved management oversight and resource allocation.
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Earnings Impact5/10
Growth Catalyst6/10
Governance Concern2/10
Regulatory Risk1/10
Balance Sheet Risk4/10
Liquidity Impact8/10
Market Sentiment5/10
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India Glycols Ltd - 500201 - Effectiveness Of The Scheme Of Arrangement
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IGL/SE/2026-27/51
1st September, 2026
The Manager (Listing) The Manager (Listing)
BSE Limited National Stock Exchange of India Limited
1st Floor, New Trading Ring, Exchange Plaza, C-1, Block G,
Rotunda Building, P.J. Towers, Bandra Kurla Complex,
Dalal Street, Mumbai – 400 001 Bandra (East), Mumbai- 400 051
Scrip Code: 500201 Symbol: INDIAGLYCO
Dear Sirs,
Sub: Disclosure under Regulations 30 of the Securities and Exchange Board of India
(Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing
Regulations”)- Effectiveness of the Scheme of Arrangement
This is in continuation to our earlier intimation dated 21st August, 2026 bearing no:
IGL/SE/2026-27/47,wherein we had informed about the effective date and record
date for the Scheme of Arrangement amongst India Glycols Limited (“Demerged
Company”/ “the Company”), Ennature Bio Pharma Limited (“Resulting Company 1”)
and IGL Spirits Limited (“Resulting Company 2”) and their respective shareholders
(“Scheme”) as sanctioned by the Hon’ble National Company Law Tribunal,
Allahabad Bench (“NCLT”).
We wish to inform you that in connection with the Scheme, all the aforesaid
companies have filed the certified true copy of the Order of the NCLT with Registrar
of Companies, Uttarakhand today i.e., 1st September, 2026.
Accordingly, in terms of the provisions of the Clause 24 of the Scheme, the “Effective
Date” of the Scheme is 1st September, 2026 and the Scheme contemplating the
Demerger has now become effective and the Resulting Companies have ceased to
be the subsidiaries of the Company.
Further, a news release on Scheme of Arrangement is enclosed.
You are requested to take the above information on record.
Thanking you,
Yours faithfully,
For India Glycols Limited
Ankur Jain
Head (Legal) & Company Secretary
Encls: A/a
News Release
India Glycols Limited Demerged into Three En(cid:415)(cid:415)es
India Glycols to operate as three separate en(cid:415)(cid:415)es from September 1, 2026
Shareholders to receive shares in each of the new en(cid:415)(cid:415)es
Noida, September 1, 2026: India Glycols Limited, (NSE: INDIAGLYCO) (BSE: 500201), a leading
green chemicals and manufacturing Company producing bio-based specialty chemicals, glycols,
potable spirits and nutraceu(cid:415)cals, recently received approval from the Na(cid:415)onal Company Law
Tribunal (NCLT) for the demerger of the Company into three en(cid:415)(cid:415)es. The demerger is effec(cid:415)ve
September 1, 2026.
On September 1, 2026, the original en(cid:415)ty, India Glycols Limited, demerges into three separate
en(cid:415)(cid:415)es — India Glycols Limited, IGL Spirits Limited and Ennature Bio Pharma Limited.
India Glycols Limited will house the chemicals, glycols, bio-glycols, new specialty products and
industrial gases businesses. India Glycols reported a net revenue to Rs 345 crore in the June 2026
quarter. This en(cid:415)ty is already listed on both BSE and NSE.
IGL Spirits Limited will house the spirits business, including IMFL, country liquor and bio-fuel
businesses. IGL Spirits Limited reported a net revenue to Rs 694 crore in the June 2026 quarter.
The management of IGL Spirits Limited will apply to BSE and NSE for lis(cid:415)ng of its shares on the
respec(cid:415)ve bourses.
Ennature Bio Pharma Limited will house the bio-pharma and bio-polymers businesses. Ennature
Bio Pharma reported a net revenue to Rs 90 crore in the June 2026 quarter. The management of
Ennature Bio Pharma Limited will apply to BSE and NSE for lis(cid:415)ng of its shares on the respec(cid:415)ve
bourses.
Shareholding Pa(cid:425)ern
Each Shareholder of India Glycols on the record date of September 2, 2026, will be en(cid:415)tled to
receive one equity share of IGL Spirits Limited for every one equity share held in India Glycols
Limited, and one equity share of Ennature Bio Pharma Limited for every three equity shares held
in India Glycols Limited.
As a result, a Shareholder holding 300 India Glycols shares on September 2, 2026, will be en(cid:415)tled
to receive 300 equity shares of IGL Spirits Limited and 100 equity share of Ennature Bio Pharma
Limited, resul(cid:415)ng a total of 700 shares across the three en(cid:415)(cid:415)es, including the 300 equity shares
held in India Glycols Limited.
Benefits of the Demerger
The demerger will result in the crea(cid:415)on of three separate companies, each with a clear business
focus.
Each company will have a dedicated focus, enabling improved management oversight and more
efficient alloca(cid:415)on of resources towards growth.
In addi(cid:415)on, each company will be able to manage its capital, investments and resources based on
its specific business requirements, thereby enabling more efficient u(cid:415)lisa(cid:415)on of capital.